Member Info for dadean

Paying a bit more interest, lower profitability. Guess however buying back the 3.5% may be a good move if they are trading well below par..

Take your point bonxie, but I'm most peeved that they were always undervalued and are still under valued, maybe twice there was some sp appreciation but it didn't stick

Yes they did, don't remember exactly but perhaps additional 80% shares issued

I'm a caml holder, terry could be right on the equity raise, could happen when they buy the next asset.... I personally would not prefer this to happen... I wonder if the most shareholder profitable would be to stay as a two site business and exhaust both assets retuning all cash to shareholders.... I like the div this Co pays but jeezo share price at this point has effectively gone nowhere in many many years

Still a hold for me at close to 10% div albeit it may be trimmed as to their free cash floe calculation

Maybe all shareholders should ask to be treated as self employed contractors and receive fees instead of divs, 20% tax rather than 75% would make more goto shareholders, it it was only legal and not totally impractical

Hi Tichtich, thank you for sharing your thoughts and the calculations, found your take very useful,

May it be a good long term investment for all, I'm finding it rather amusing that the risk free rate is now 5% albeit it won't stay there for ever

I should say that is instead of over paying for new business

That would be mighty fine at this level, capital return? Maybe not so keen on that

Hi Actuary thanks for your reply that's useful thanks. I'm thinking i was confusing myself earlier on the re investment in relation to depreciation wear and tear. However i think i had my numbers wrong, looks like (surplus profit as % of NAV after dividends being paid) 1% in 2020 (too low) 4% in 2021 (fine) and 10% (very high) in 2022

if i have these second figures right the reinvestment should cover the depreciation. 2022 in fact was a fantastic profit result and investment figure -- although we know we cant expect that every year...

i'm thinking a good diversifier for the portfolio and yields higher than BP..

Hi, i bought into this as been watching it for a year or so, i do wonder if we are eating our own tale when it comes to NAV.... scant few details on depreciation in the accounts, if a wind farm has a life of 25 years crudely we could expect 4% depreciation on the asset anually... when looking at the accounts i could infer 1% from the investment managers report.. which would suggest underfunding organically paid reinvestment..... which could mean that the existing assets eventually get to the end of their life with underfunding organic replacements.... (additions aside) could this be the case? or do we think NAV will be maintained?

I also looked at the accounts of a private windfarm business -- community wind farm ltd, and jeez they are bags more profitable than this albeit a smaller firm...... im quite happy with my 6% div, but so long as we are not getting it at expence of a 2% NAV Burn which is under reported

True, what happened to their original business, profit decimated,

Well thankfully they are here, quick skim and they didn't look worse than expected, hopefully trade flat on this, no 1.30s like last year please... Div up 1p, near 5% annual yield

First of all welcome to me, shareholder for all of 24hrs...

Interesting to see what happens to the gas price this winter, some say that Europe could end up with similar scrabbling to buy gas, as last year, which drove up the price.... Apparently not alot been done to alleviate the shortages......

Interesting to see what happens....

Ps I like the hefty ring fenced Corp tax loss tailwind brought to serica... That has real value... Interesting Co no doubt

Hard to believe they managed to fleece institutional and retail investors at a capital raise at £3 a share, crazy.... Well if there long term forecasts prove accurate it'll be back at £4 plus a share.....

Could you imagine if this co could make a net profit of 3% ? wonder what tesco could do with this, or a hedge fund... this is interesting i can't understand why it isn't profitable

This is off to the races, wouldn't be surprised if this continues to rise to around 10.00 but that's just a random number after looking at the share price graph. I bought in as looked cheap... Picking up £1s for 50p... As the old adage goes

Huge shift in ownership, 70%. Now, pubs that were sold, sold for significantly less than their carrying value which is a bit disappointing given they often site no revaluation since 2000 approx. Market liking the results however, one ray of light in my portfolio today

Hi, noted they have sold all of their interest rate swaps for a cool 180 Million approx. what are peoples views on this? guess it aids cash flow now but does not mean they are now exposed to higher interest immediately and for the foreseeable?

O dear... In here to watch.... O well it'll diversify my slightly reduced BP and shell I guess, good luck to all

Morning, I ran a stock screen on the above looking for quality cheap and this came up, also indicated heavy buying by members... Took a little starter position, fab full year results and virtually debt free, that UK tax rate though, makes you wonder.... But still they must have been raking it in... Not sure of the next catalyst for this share, oil appears in a down trend but likely this Co could remain profitable... Hope they don't over pay for overseas assets. Needs to be eps friendly,